The options market turns most bearish on the NZD/USD in six weeks, per the latest weekly data from Reuters.

One-month risk reversal (RR) of NZD/USD, a gauge of calls to puts, not only snapped a five-week uptrend but also dropped for the second consecutive day by the end of the last week, per Reuters data.

That said, the latest daily RR is 0.000, following Friday’s print of -0.050, whereas the weekly number marked -0.150 level.

It’s worth noting that the NZD/USD prices do track the bearish signals flashed by options markets, down 0.07% intraday around 0.6770 by the press time. However, the quote’s further weakness depends upon this week’s US inflation data.

Read: NZD/USD struggles to extend corrective pullback below 0.6800 on mixed clues